What is the tax and accounting treatment of the repayment of a contributed surplus from a subsidiary company to a parent company and how should this be treated in the parent company’s books? Jackie Wheaton (BDO) considers the key points.
Substantial changes have been made to the profit fragmentation anti-avoidance since the original consultation was published, writes Mark Saunders (PwC).
Highlights include tweaks to entrepreneurs’ relief, a new and unexpected ‘structures and buildings allowance’, and the extension of ‘off payroll working’ rules, albeit with some welcome modifications. David Whiscombe (BKL) reports.